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B.C. hereditary chiefs launch climate court challenge of contentious pipeline – Global News

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Two hereditary chiefs from a British Columbia First Nation at the heart of a wave of national protests launched a constitutional challenge of fossil fuel projects on Wednesday as Prime Minister Justin Trudeau called for demonstrators to observe the rule of law.

The challenge calls on the Federal Court to declare that Canada is constitutionally obliged to meet international climate change targets, which the chiefs contend would cancel approvals for a natural gas pipeline that runs through traditional Wet’suwet’en territory in northern B.C.


READ MORE:
Indigenous rights protesters leave Vancouver’s Granville Bridge after hours-long shutdown

“If Canada is allowed to continue approving infrastructure for fracked gas projects on a 40-year timeline, our territories will become a wasteland before the project licenses expire,” Chief Lho’imggin, who also goes by Alphonse Gagnon, said in a statement.

“As house chief it is my responsibility to protect our house territory. We’re asking the court to get Canada to act before it is too late.”

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Protests become more than anti-pipeline


Protests become more than anti-pipeline

The challenge came as protesters continued to blockade major ports and rail lines in Ontario, Quebec and British Columbia, scuttling freight and passenger service and prompting growing calls for federal government intervention.

Speaking in Senegal on Wednesday, Trudeau called on all sides to resolve their differences but insisted that protesters must honour Canadian law.

“We recognize the important democratic right and will always defend it of peaceful protest,” Trudeau said during a news conference with Senegal President Macky Sall.


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Victoria police report at least 4 assaults at legislature protest as politicians trade barbs

“But we are also a country of the rule of law, and we need to make sure those laws are respected.”

Trudeau’s remarks, echoed by Canada’s transportation and finance ministers throughout the day, drew scorn from Indigenous protesters backing the Wet’suet’en hereditary chiefs.

Herb Varley, who helped organize a blockade at the Port of Vancouver, accused Trudeau of “mindlessly parroting” the term rule of law, which he said is empty rhetoric.

If his elders had followed the rule of law, he said their language would have died out.

“If my Nisga’a grandmothers, grandfathers, aunties and uncles had followed the rule of law, we wouldn’t know we were Nisga’a,” he said outside the B.C. Supreme Court in Vancouver, where he and other protesters announced they were challenging an injunction served against them over the weekend.

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Blockade organizers across Canada have said they’re acting in solidarity with those opposed to the Coastal GasLink pipeline project that crosses the traditional territory of the Wet’suwet’en First Nation near Houston, B.C.

The blockades were erected after the RCMP enforced a court injunction last week against Wet’suwet’en hereditary chiefs and their supporters, who had been blocking construction of the pipeline, a key part of a $40-billion LNG Canada liquefied natural gas export project.


READ MORE:
Wet’suwet’en solidarity protests: How Canadian law protects demonstrators

Another group of supporters took to the streets in Ottawa on Wednesday morning, moving from the office of the federal justice minister into a major intersection near the Supreme Court of Canada. The crowd caused a traffic jam that backed up vehicles for blocks, but the delay was cleared in less than an hour as protesters dispersed.

Similar protests in Vancouver tied up traffic at different points of the city throughout the day.

B.C. Premier John Horgan said anti-pipeline demonstrators who prevented people from entering the legislature for his government’s throne speech on Tuesday need to respect the rights of others.






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Western producers worry about railway protest impacts


Western producers worry about railway protest impacts

“Peaceful demonstration is fundamental to our success as a democracy,” he told a news conference in Victoria on Wednesday.

“But to have a group of people say to others you are illegitimate, you are not allowed in here, you are somehow a sellout to the values of Canadians is just plain wrong, and I want to underline that.”

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The economic impact of the demonstrations has started to crystallize: Canadian National Railway Co. warned Tuesday that it would have to close “significant” parts of its network unless blockades on its rail lines were removed.


READ MORE:
Wet’suwet’en to hold all-clan meetings amid solidarity protests, internal division

Passenger rail services have also been affected in Ontario, Quebec and B.C., with Via Rail cancelling service on its Montreal-Toronto and Ottawa-Toronto routes until at least the end of the day on Friday because of a blockade near Belleville, Ont.

It had previously cancelled service on those routes until the end of the day on Thursday.

Via has also said a blockade near New Hazelton, B.C., means normal rail service is being interrupted between Prince Rupert and Prince George.

In Manitoba, Premier Brian Pallister said the Justice Department will seek an injunction to end a rail blockade west of Winnipeg and have it enforced within a few days.






2:19
Freeland confronted by pipeline protesters in Halifax


Freeland confronted by pipeline protesters in Halifax

“As much as we will always respect the right of protesters to have a voice, they don’t have a veto and … they don’t have the right to put their rights ahead of everyone else and to disregard the laws of our province and country,” he said in an interview.

The Alberta wheat and barley commissions said rail disruptions of just a few days will cause economic loss for farmers, who have faced difficult harvest conditions.

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“Delays will result in farmers being unable to deliver their grain, meaning they can’t be paid at least until service resumes,” said Dave Bishop, chair of the barley commission.

“We are still recovering from the harvest from hell and need reliable grain movement in order to get back on track.”


READ MORE:
Protesters block rail traffic in support of Wet’suwet’en First Nation west of Winnipeg

Mohawks at a barricade that has disrupted rail traffic near Montreal said they’ll remain in place as long as the RCMP is present on Wet’suwet’en territory.

Tekarontake, a Kahnawake Mohawk, said the conflict is the result of a failure by governments and others to accept that the land belongs to the people who continue to adhere to the ways of their ancestors.

“That’s whose land this is, we have never disconnected ourselves from our mother. This land is our mother,” he said.

“We haven’t abandoned her, we still love her, we care for her and we will defend her to the best of our ability.”

Natural Resources Minister Seamus O’Regan said Transport Minister Marc Garneau is “seized” with the blockades affecting railways.

“Our economy really relies on our ability to safely transport goods across the country,” he said.

Asked how he could assure industry that natural resource projects can proceed in Canada, O’Regan said there will always be differing opinions.

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“As we work toward net zero (emissions) by 2050 and considering we are an economy that relies heavily on natural resources and natural resource development, there’s always going to be that friction. There will always be that tension.”

© 2020 The Canadian Press

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Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

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TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.

Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.

Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).

SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.

The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.

WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.

SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.

SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.

SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.

The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.

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Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

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Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.

“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.

“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”

Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.

On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.

If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.

These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.

If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.

However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.

He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.

“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.

Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.

The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.

Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.

Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.

Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.

Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.

Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”

In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.

“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.

This report by The Canadian Press was first published Nov. 12, 2024.

Companies in this story: (TSX:SHOP)

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RioCan cuts nearly 10 per cent staff in efficiency push as condo market slows

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TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.

The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.

The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.

RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.

The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.

RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.

This report by The Canadian Press was first published Nov. 12, 2024.

Companies in this story: (TSX:REI.UN)

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